Buying gold and silver bullion is a little like financial insurance and is a great way of protecting your finances, especially during times of economic uncertainty. However, with the appeal of gold and silver also comes the responsibility of keeping it safe.
Having a secure storage plan for your gold and silver is crucial if you plan on keeping it at home safely. It can be a little daunting thinking about storing your bullion at home, but if you do it correctly, you can have it securely stored away with the accessibility of having it readily available whenever you need it. This ease of access and personal possession of your precious metals can give you and your loved ones greater peace of mind.
The ‘One Confidant’ Rule
One of the most important rules when it comes to storing bullion in your home is to make sure that you should only have one person who knows it’s stored and that they can access it. This person should be someone whom you trust implicitly. It can be your spouse, your parent, or your child (if they are old enough to understand), but you should emphasize the importance of keeping that secret between the two of you. The more people that know, the more vulnerable you’ll be.
There are a couple of reasons for only having ‘one confidant’. Firstly, you need someone who will be able to access your bullion in case you become sick, incapacitated, or you pass away. Remember, bullion serves as financial security for you and the people you love and needs to be accessed in case of emergencies.
Secondly, the ripple effect can be seriously minimised. If only one person knows, you can easily keep the secret safe. However, if more than one person knows, you won’t be able to stop the secret from getting out.
If you haven’t got a safe yet, assess your needs and figure out which storage method best fits your home. Gold and silver has different storage requirements. Silver takes up way more space and will require a larger storage area, whilst gold and other precious metals are smaller, so a more confined space could be utilised. We advise the use of safes as best-practice for storing your bullion safely at home. These highly-secure and effective devices have been used throughout history as they are extremely efficient at doing what they do.
You may need to even larger if you’ve got large silver bars. A vault or a very large safe might be more appropriate in this case. Larger safes and vaults come with the added advantage of not needing to be so discreet. The size and weight of these alone will be impossible for anyone to move without use of serious machinery (especially with all of your heavy precious metals keeping it weighed down as well). Then there’s the added advantage of having ultra secure features, like Securikey’s concealed hinges, 8mm anti-bludgeon laser-cut door and 25mm dog bolts which make these storage devices incredibly protective.
For best results, you may want to think about using a few different locations around your home, so if one gets comprimised, the rest of your bullion is not at risk. You could have a larger safe for all of your investment silver and another smaller safe for your gold and other valuables. Find out where on the property there’s space for storage and utilitse a safe if needed.
Extra Home Security
You could go a step further and look at upgrading your home security for your property. This could involve anything from security cameras and alarm systems. More and more services are also offering smart security now which allows you to access everything through your phone.
Get loads more tips and the latest trends on home security from our friends over at Home Security Store.
Should You Get Your Bullion Insured?
Getting your bullion insured is a matter of personal preference but it definitely adds a layer of protection to your investment. It’s important to keep in mind what’s at risk should you opt-out of declaring your bullion investment as part of your insurance. Find out how cost-effective this would be to insure a growing silver stack or gold hoard in the short, medium and long term. For some people, it’s highly worth it and are willing to pay higher premiums on their insurance for this extra layer of protection.
Top Home Storage Tips
Here are our top storage tips that you can use while deciding how to safely hide your bullion inside your home:
- Think like a thief – try walking through your home and look at it through the eyes of a thief. Remember, most thieves want to get in and out of your home quickly, so they’ll be looking for obvious hiding places as well as expensive items that are out in the open.
- Inaccessible hiding places – go for tried-and-tested storage methods such as wall or floor safes. What’s more, hide these safes behind or underneath layers, such as behind a heavy bookshelf or a large rug. You can even add an extra layer of protection by adding alarms to these safes.
- Use decoys – if you have expensive items out in the open, consider using trinkets such as costume jewelry or fake coins to serve as decoys.
- Get insured – declaring bullion on insurance will increase your premium, but you have to consider how much this will cost over the cost of losing your metals.
- Tell limited people – the less people that know about your precious metals, the safer you’ll be.
- Acquire a safe – there’s nothing that beats the benefits of a robust safe, and it’s worth spending the extra to ensure you have the most security for your valuables.
- Get additional home security – there are loads of other things that you can do to secure your home and each addition will increase the liklihood of preventing loss such as security cameras and home alarms.
Having a home storage plan for your bullion is a smart move. You don’t want your entire financial safety wiped out from under you because you didn’t think too far ahead or you were simply too lazy to secure your valuables. With a few proactive steps, you can keep your bullion safely stored in your home where you can easily access them during emergencies.
If you’re considering off-shore vault storage, you want to increase your physical bullion stash or are looking for a new safe to store it all in, please call or email our friendly team at Bleyer to discuss your options on 01769 618618 or email firstname.lastname@example.org.